Significant Agreement from OTKAR, Market Change from OTTO, New Company from ALARK: Latest Updates from BIST Companies
Many companies listed on Borsa Istanbul, operating in the finance and industrial sectors, are in the spotlight due to new agreements and strategic decisions. Otto Holding is transitioning to the Alt Market; Otokar (OTKAR) has signed a significant contract by winning a tender in Romania. Alarko Holding (ALARK) has decided to establish a new aviation company, while İş GYO (ISGYO) has purchased a new area in İş Towers Complex.
Otto Holding is transitioning to the Alt Market on November 29, 2024. According to a statement from Borsa Istanbul, Otto Holding (OTTO) shares will start trading on the Alt Market as of November 29, 2024. This transition from the Close Monitoring Market to the new market has been decided under Article 36 of the Quotation Directive.
Otokar has signed an important agreement in Romania. Otokar has won the tender for 4x4 Tactical Wheeled Light Armored Vehicles initiated by the Romanian Ministry of National Defence and signed a contract on November 27, 2024. Under this tender, Otokar will produce the first 278 vehicles at its facilities, while the remaining vehicles will be manufactured in Romania. The total amount of this agreement, excluding VAT, is 4.26 billion RON (approximately 31 billion TL), which will provide Otokar with income from vehicle exports from Turkey as well as revenues from sales of disassembled kits and parts. Deliveries are planned to commence in the last quarter of 2025 and be completed within five years.
Alarko Holding is establishing a new aviation company. Alarko Holding's subsidiary Alfor Aviation has decided to establish an aviation company with a capital of 18 million TL. This new company will operate in the aviation sector. This decision by Alfor Aviation and Technical Services Limited aims to strengthen Alarko Holding's presence in the aviation sector.
İş GYO has purchased a new area in İş Towers. İş GYO has acquired a 5,954 m2 commercial area located in İş Towers Complex, which belongs to Türkiye İş Bankası (ISATR). A portion of 5,892 m2 of this area will be leased back to İş Bankası (ISCTR) for one year. The purchase price has been determined as 900 million TL excluding VAT, while the monthly rental amount for the leased area has been announced as 4,124,400 TL + VAT.
Doğuş Otomotiv has purchased real estate for a showroom. Doğuş Otomotiv Servis ve Ticaret A.Ş. (DOAS) decided to purchase a real estate owned by Doğuş Holding to use as a showroom space. The property is located in the Rumeli Hisarı neighborhood of Beşiktaş, Istanbul. This acquisition is seen as a significant step to strengthen Doğuş Otomotiv's brand representation.
Innosa Teknoloji has reached an agreement with Istanbul Faculty of Medicine. Innosa Teknoloji's (INTEK) subsidiary Probel Yazılım has signed a contract for the procurement of a Hospital Information Management System (HBYS) service with Istanbul University Istanbul Faculty of Medicine Hospital, valid throughout 2025. The contract amount, excluding VAT, is set at 11,810,400 TL. This agreement will contribute to Probel Yazılım's broader impact in the healthcare sector.
GSD Varlık Yönetim has won the portfolio tender of Şekerbank. GSD Varlık Yönetim (GSDHO) has won the tender for a commercial/SME portfolio valued at 97.7 million TL offered for sale by Şekerbank (SKBNK). Three asset management companies participated in the tender. The final results of the tender will depend on the approval of the board of directors of Şekerbank, and after approval, the transfer processes will commence.
Sur Tatil Evleri GYO is preparing a share buyback program. The Board of Directors of Sur Tatil Evleri GYO (SURGY) has decided to present a share buyback program for approval at the extraordinary general assembly meeting to be held on December 18, 2024. Under this program, share buybacks of up to 2 million lots may be conducted, and the maximum funding amount will be 150 million TL. This step aims to align the market value of the company's shares more closely with its actual financial performance.
Tarkim has terminated the factory construction contract. Tarkim Bitki Koruma San. ve Tic. A.Ş. (TARKM) has terminated the construction contract signed with the partnership of Bayındırlar Yapı and Makfen Yapı in Turgutlu OSB due to the contractor's failure to fulfill contractual obligations. Developments regarding ongoing construction work will be shared with the public.
ICU Girişim has made an agreement with Mars Financial Software. ICU Girişim's (ICUGS) subsidiary Netsafe has signed a convertible debt agreement with Mars Financial Software worth 1 million Euros. The conversion to equity is planned for December 31, 2026. This investment is designed to contribute to Netsafe's goal of becoming a technology investment platform.